Merrill keeps Genentech at buy

Merrill Lynch analyst Eric Ende reiterated Genentech, Inc. at a buy after the Avastin approval. The label expansion will help protect Avastin, possibly raising the hurdle for new drugs entering the market, according to the analyst. Shares of the South San Francisco, Calif.-based biotherapeutic company were up 70 cents, or 0.91%, at $77.63 on volume of 2,286,600 shares versus the three-month running average of 3,547,380 shares. (NYSE: DNA)

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